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S&P500 and Nasdaq booked fresh record closing highs as attention turns to tonight’s AEST August jobs data - Dow up +131-points or +0.37% . The broader S&P500 added +0.28% to 4,536.95, touching a record intraday high of 4,545.85 earlier in the session. Energy (up +2.53%) led eight of the elven primary sectors higher, with Health Care (+1.08%) and Industrials (+1.02%) both rising over >1%. The global shortage of computer chips continues, forcing automakers to temporarily close factories. General Motors Co (down -0.33%) announced that it would pause production at eight North American plants during the next two weeks, including two that make the company’s top-selling Chevrolet Silverado pickup. Ford Motor Co (-0.76%) will stop making pickups at its Kansas City Assembly Plant for the next two weeks. Shifts will be cut at two more truck plants in Dearborn, Michigan, and Louisville, Kentucky. The Nasdaq edged +0.14% higher to 15,331.18, also setting an intraday all-time high (15,380.07). Apple Inc climbed +0.75% to a record closing high of US$153.65 after the most valuable U.S. company by market capitalisation announced concessions for some large developers on its App Store regarding commissions. Apple said late Wednesday (1 September) it will allow developers of so-called “reader” apps, which offer content on a subscription basis like Netflix Inc (+1.11% to US$588.55 and extending their best-ever two-week stretch of gains into record territory) and Spotify Technology SA (+6.57%), to give customers the option of sidestepping its in-app purchase commissions by making direct purchases from the respective companies. Separately, CNBC reported that Apple was preparing mass production of the Apple Car by 2024. The small capitalisation Russell 2000 up +0.74%. In merger and acquisition (M&A) news, Baxter International Inc +4.8% higher after it said it has entered an agreement to acquire fellow medical technology company Hill-Rom Holdings Inc. for US$156 per share, in a deal with an enterprise value of ~US$12.4B.”

US equity markets logged modest gains, with the technology-centric Nasdaq booking a fresh record closing high - Dow down -48points or -0.14% . The broader S&P500 inched +0.03% higher, trading above its 30 August record closing high (4,528.79) earlier in the session. The Nasdaq added +0.33% to 15,309.38 to book its 33rd record closing high of 2021. Apple Inc rose +0.45%, with the The Wall Street Journal reporting that the technology behemoth will eventually include a tool to monitor blood pressure and a thermometer to help with fertility planning in its smartwatches. The small capitalisation Russell 2000 gained +0.58%.

The S&P 500 and the Nasdaq Composite booked fresh closing records to open the new trading week - Dow down -56-points or -0.16% . The broader S&P500 added +0.43% to 4,528.79, logging its 53rd record closing high this year after establishing a fresh intraday record high (4,537.36) earlier in the session. Before this year, only 1964 and 1995 saw more than 50 new highs before August was over. The record for new highs in one year is 77, set in 1995. Real Estate (up +1.15%) and Information Technology (+1.09%) rose over >1% to lead seven of the eleven primary sectors higher. Financials (down -1.47%) and Energy (-1.16%) both fell over >1%. The Nasdaq rose +0.90% to 15,265.89, recording its 32nd record closing high of 2021 after setting its intraday all-time high (15,288.08). Apple Inc gained +3.04%, Microsoft Corp +1.29% and Netflix Inc +1.30%. Paypal Inc rose +3.64% after CNBC reported that the company is exploring a stock-trading platform for its U.S. customers. The small capitalisation Russell 2000 lost -0.49%. The Pentagon confirmed that that US military had completed its withdrawal efforts from Afghanistan albeit the diplomatic mission to ensure additional U.S. citizens and eligible Afghans who want to leave continues.

US equity markets and government bonds rallied in response to Federal Reserve Chair Jerome Powell cementing expectations that the central bank will begin a slow removal of its crisis-era stimulus measures later this year - Dow up +243-points or +0.69%. The broader S&P500 gained +0.88% to 4,509.37, logging its 52nd record closing high this year Energy (up +2.62%) returned to the top of the primary sector leaderboard on Friday (27 August), while Communication Services (up +1.60%), Materials (+1.33%) and Financials (+1.31%) all gaining over >1%. Health Care (down -0.16%) and Utilities (-0.03%) were the only primary sectors to close in the red. The Nasdaq +1.23% to 15,129.50, recording its 31st record closing high of 2021. Amazon.com Inc (up +1.01%) announced that it is partnering with Affirm Holdings Inc (up +35.61% in extended trading last Friday (27 August)), with Affirm’s buy now, pay later checkout option will be available to certain Amazon customers in the U.S. starting Friday, with a broader rollout in the coming months. The small capitalisation Russell 2000 rallied +2.85%. For the week, Dow rose +0.96%, S&P500 +1.52% and the Nasdaq +2.82%. The Russell 2000 climbed +5.1% to record its best weekly rise since the period ended 12 March (when it jumped +7.32%), according to FactSet data.

US equity markets retreated as investors weighed second quarter economic growth data and eyed Federal Reserve Chair Jerome Powell’s address at the Jackson Hole Economic Symposium on "the economic outlook" tonight AEST - Dow down -192-points or -0.54%. Cloud-based customer-relationship management company Salesforce.com Inc outperformed with a +2.66% gain following a strong second quarter result after the closing bell of the previous session. The broader S&P500 lost -0.58%, snapping a five session winning streak that saw the index log its 51st record closing high of the year in the previous session. Energy (down -1.51%) led ten of the eleven primary sectors lower. Real Estate (up +0.10%) was the only primary sector to advance. The Nasdaq -0.64%, also snapping five session winning streak and a day after the technology-centric index logged its 30th record closing high of 2021 The small capitalisation Russell 2000 fell -1.13%. Traders were also eying new developments in Afghanistan where a dozen US service members were tragically killed following a terrorist attack outside the Kabul airport. President Biden vowed to complete the evacuation of Americans and their allies from Afghanistan.

Fresh record highs for both the S&P500 and Nasdaq ahead of the Jackson Hole Economic Symposium tonight AEST - Dow up +39-points or +0.11% 35,405.5 and ~0.62% shy of its all time closing high (35,625.40) set on 16 August. The broader S&P500 edged +0.22% higher to 4,496.19, logging 51st record closing high this year and matching the greatest number of closing records to this point in a calendar year since 1995, according to Dow Jones Market Data. Financials (up +1.21%), Energy (+0.72%) and Industrials (+0.60%) leading seven of the eleven primary sectors higher. More defensive sectors underperformed for a third straight session, with Health Care down -0.26%, Real Estate -0.18% and Consumer Staples -0.10%. The Nasdaq +0.15% to 15,041.85, recording its 30th record closing high of 2021. Chipmakers were buoyed a Wall Street Journal report that Western Digital (+7.8%) is in advanced talks to undertake a US$20B merger with Japan’s Kioxia Holdings. Nvidia Corp rose 1.9% following news that the Department of Energy will run its new supercomputer on the company’s computing platform. Micron Technology gained +2.%. The small capitalisation Russell 2000 +0.37%. Elsewhere on the merger and acquisition (M&A) front, ON Semiconductor Corp (down -0.21%) said it agreed to acquire GT Advanced Technologies for US$415M in cash.

Broad-based gains lifted both the S&P500 and Nasdaq to fresh record closing highs as positive U.S. vaccination news and easing worries about the U.S. tapering stimulus buoyed sentiment ahead of a key speech by Federal Reserve Chair Jerome Powell later this week. - Dow added +31-points or +0.09% . The broader S&P500 edged +0.15% higher to 4,486.23, with Energy (up +1.61%) atop the primary sector leaderboard for a second consecutive session and leading six of the eleven primary sectors higher. The more defensive sectors underperformed for a second consecutive session, with Consumer Staples (down -0.76%), Real Estate (-0.72%) and Utilities (-0.63%). The Nasdaq gained +0.52% to 15,019.80, with Chinese stocks leading the gains amid some bargain hunting as investors get some more clarity on the regulatory outlook. JD.com jumped 14.44% following the Chinese e-commerce giant’s second quarter result after the closing bell of the previous session. Fellow e-commerce platform Pinduoduo soared +22.25%, search engine Baidu +8.63% and Tencent Music Entertainment +12.75%. Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said the agency will demand U.S.-traded Chinese companies disclose political and regulatory risks to investors, an extension of recently imposed requirements for firms seeking initial public offerings, according to a Bloomberg report. Corporations could begin including the enhanced disclosures in their annual reports as early as next year. Casino operators Las Vegas Sands (up +7.53%) and Wynn Resorts (+7.01%), after Macau eased travel restrictions with the improvement of the Covid-19 case outlook in China’s Guangdong province, a key visitor source for the gambling capital. The small capitalisation Russell 2000 rose +1.02%.

A strong start to the new trading week for US equity markets - Dow up +216-points or +0.61% . The broader S&P500 gained +0.85% to 4,479.53, just shy of a new closing high after setting a fresh intraday high of 4,489.88 earlier in the session. Almost three-quarters of the companies in the index advanced. Energy (up +3.77%) led seven of the eleven primary sectors higher, with Consumer Discretionary (+1.36%), Information Technology (+1.27%) and Communication Services (+1.27%) all gaining over >1%. The more defensive sectors underperformed overnight after outperforming last week, with Utilities (down -1.32%) the worst performing primary sector. The Nasdaq rallied +1.54% to book its 28th record closing high of 2021 at 14,942.65, also hitting a record intraday record high of 14,963.47. The small capitalisation Russell 2000 +1.88%.

US equity markets closed out a turbulent week marked by a surge in global volatility on a positive note - Dow up +226-points or +0.65% to 35,120.08, snapping a three session skid and climbing back above >35,000. Microsoft Corp (up +2.56%), Cisco Systems (+1.66%) and Salesforce.com Inc (+1.21%) were among the best Dow performers on Friday night (20 August). The broader S&P500 gained +0.81%. Tesla Inc rose +1.01% following their Artificial Intelligence (AI) Day that saw the company unveil a new custom chip and plans to build a humanoid robot. The Nasdaq +1.19%. Nvidia Corp’s (up +5.14%) planned $US40B acquisition of British chip designer ARM hit a major hurdle on Friday (20 August) after a UK regulator found it could damage competition and weaken rivals, and required a further lengthy investigation. The small capitalisation Russell 2000 +1.65%.